Q2 2026 13F · SEC CIK 762152

State of Michigan Retirement System

Pension fundFiled 2026-07-30 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $22.6B
Reported positions: 960
Top holdings a year, 3 yrs: +25.0%
Average holding period: 8.5 yrs

State of Michigan Retirement System is a pension fund that reported 960 positions worth $22.6B in its Q2 2026 13F, filed 2026-07-30. Its largest holdings were Nvidia Corporation Com (NVDA, 6.3%), Apple Inc (AAPL, 4.9%), Microsoft Corp (MSFT, 3.3%). A portfolio copying its top holdings returned 25.0% a year over the last 3 years, against 20.4% for the S&P 500.

State of Michigan Retirement System holdings largest 50 of 960 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

State of Michigan Retirement System 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
NVDANvidia Corporation Com	6.3%	6.7%	7,144,304	-1.4%	$1.4B
AAPLApple Inc	4.9%	5.2%	3,830,399	-1.8%	$1.1B
MSFTMicrosoft Corp	3.3%	4.0%	2,026,202	-1.5%	$755.8M
AMZNAmazon Com Inc Com	2.8%	3.0%	2,647,879	-2.0%	$631.1M
AVGOBroadcom Inc	2.7%	2.8%	1,634,642	-3.2%	$617.5M
GOOGLAlphabet Inc	2.5%	2.4%	1,578,570	-1.1%	$564.1M
GOOGAlphabet Inc	2.4%	2.4%	1,560,960	-0.8%	$551.5M
AMDAdvanced Micro Devices Inc	2.0%	0.7%	790,453	+28.0%	$459.2M
MTUMIshares Msci USA Momentum Factor ETF	2.0%	1.7%	1,301,990	-2.8%	$446.4M
MUMicron Technology Inc	1.9%	0.7%	374,042	+1.8%	$431.8M
METAMeta Platforms Inc Class A	1.9%	2.6%	762,054	-10.3%	$429.3M
LQDIshares Tr	1.5%	1.3%	3,072,400	+41.4%	$335.1M
SPYSpdr S&p 500 ETF Tr	1.3%	0.9%	407,152	+50.3%	$304.0M
TSLATesla Inc Com	1.3%	1.4%	720,857	-1.9%	$303.2M
ADBEAdobe Inc	1.2%	1.1%	1,349,261	+64.4%	$276.6M
LLYLilly Eli & Co	1.1%	1.0%	212,904	-1.3%	$255.4M
JPMJpmorgan Chase & Co	1.0%	1.1%	686,031	-2.6%	$224.6M
HUBSHubspot Inc	1.0%	—	1,188,887	—	$217.0M
INTCIntel Corp	0.7%	0.4%	1,209,653	-21.8%	$168.9M
BRK-BBerkshire Hathaway Inc Del	0.7%	0.9%	329,329	-3.0%	$164.8M
JNJJohnson & Johnson	0.7%	0.8%	642,467	-1.6%	$163.2M
KRThe Kroger Co	0.7%	0.9%	2,929,710	+28.2%	$162.7M
AMATApplied Matls Inc	0.7%	0.5%	223,051	-12.5%	$161.3M
LRCXLam Research Corp	0.7%	0.4%	358,800	-0.8%	$155.5M
VVisa Inc Com Cl A	0.7%	0.7%	453,023	-2.7%	$155.4M
CHTRCharter Communications Inc	0.7%	0.5%	1,070,397	+148.0%	$152.2M
XOMExxon Mobil Corp	0.7%	1.0%	1,106,818	+1.4%	$151.3M
DUOLDuolingo Inc	0.7%	0.6%	1,306,107	+9.5%	$150.2M
VRTVertiv Holdings Co	0.6%	0.5%	410,590	+3.8%	$137.5M
CSCOCisco Sys Inc	0.6%	0.5%	1,154,062	-5.7%	$135.6M
WMTWalmart Inc	0.6%	0.8%	1,151,220	-1.7%	$130.4M
CATCaterpillar Inc Com	0.6%	0.5%	117,972	-9.0%	$125.6M
MAMastercard Inc.	0.5%	0.6%	237,681	-0.8%	$122.1M
KLACKla Corp	0.5%	—	378,480	—	$114.2M
ABBVAbbvie Inc	0.5%	0.5%	452,408	-2.0%	$113.8M
PLTRPalantir Technologies Inclass Class A	0.5%	0.7%	948,281	+8.2%	$110.6M
COSTCostco Whsl Corp New	0.5%	0.6%	117,369	-1.9%	$109.8M
BACBank of Amer Corp	0.5%	0.5%	1,798,812	-2.7%	$102.5M
GEGe Aerospace	0.4%	0.4%	267,161	-2.5%	$99.8M
UNHUnitedhealth Group Inc Com	0.4%	0.4%	232,519	-17.4%	$96.6M
ANETArista Networks Inc	0.4%	—	566,692	—	$96.3M
SECUBlackrock ETF Trust II	0.4%	—	1,900,000	—	$94.7M
IJHIshares Tr	0.4%	0.4%	1,194,710	+5.6%	$92.1M
QUALIshares Msci USA Quality Factor ETF	0.4%	—	419,649	—	$92.1M
PGProcter & Gamble Co Com	0.4%	0.5%	614,537	-1.7%	$90.1M
HDHome Depot Inc Com	0.4%	0.5%	254,984	-2.0%	$89.9M
AGGIshares Tr	0.4%	—	900,000	—	$89.1M
KBDCKayne Anderson Bdc Inc	0.4%	0.5%	6,566,762	+0.0%	$88.8M
BRK-ABerkshire Hathaway Inc Del	0.4%	0.4%	116	+0.0%	$86.9M
SNDKSandisk Corp	0.4%	—	37,901	—	$86.2M

What State of Michigan Retirement System bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Added to

CHTR Charter Communications Inc+148.0% shares
ADBE Adobe Inc+64.4% shares
SPY Spdr S&p 500 ETF Tr+50.3% shares
LQD Ishares Tr+41.4% shares
KR The Kroger Co+28.2% shares
AMD Advanced Micro Devices Inc+28.0% shares
DUOL Duolingo Inc+9.5% shares
PLTR Palantir Technologies Inclass Class A+8.2% shares

Reduced

INTC Intel Corp-21.8% shares
UNH Unitedhealth Group Inc Com-17.4% shares
AMAT Applied Matls Inc-12.5% shares
META Meta Platforms Inc Class A-10.3% shares
CAT Caterpillar Inc Com-9.0% shares
CSCO Cisco Sys Inc-5.7% shares

Left the top 50

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +17.3% /yr; S&P 500 +20.1%
3 years: +25.0% /yr; S&P 500 +20.4%
5 years: +13.9% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value and rebuilt each quarter on the day the filing became public. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$22.6B	960
Q1 2026	$18.9B	941
Q4 2025	$20.6B	935
Q3 2025	$20.8B	944
Q2 2025	$19.3B	944
Q1 2025	$17.3B	944
Q4 2024	$19.2B	951
Q3 2024	$20.2B	950
Q2 2024	$19.5B	950
Q1 2024	$18.6B	955
Q4 2023	$16.8B	958
Q3 2023	$15.5B	964

Questions about State of Michigan Retirement System's portfolio

What stocks does State of Michigan Retirement System own?

State of Michigan Retirement System's latest 13F, for Q2 2026 and filed Jul 30, 2026, lists 960 positions worth $22.6B. The largest are Nvidia Corporation Com (NVDA) at 6.3%, Apple Inc (AAPL) at 4.9%, Microsoft Corp (MSFT) at 3.3%, Amazon Com Inc Com (AMZN) at 2.8% and Broadcom Inc (AVGO) at 2.7%.

What did State of Michigan Retirement System buy last quarter?

In Q2 2026, State of Michigan Retirement System added Charter Communications Inc (CHTR) (+148.0% shares), Adobe Inc (ADBE) (+64.4% shares) and Spdr S&p 500 ETF Tr (SPY) (+50.3% shares), compared with its Q1 2026 filing.

What did State of Michigan Retirement System sell last quarter?

In Q2 2026, State of Michigan Retirement System cut from its top 50 Netflix Inc Total (NFLX), cut from its top 50 Chevron Corp New (CVX), cut from its top 50 Transdigm Group Inc (TDG), cut from its top 50 Merck & Co. Inc (MRK), cut from its top 50 Coca Cola Co (KO), Intel Corp (INTC) (-21.8% shares), Unitedhealth Group Inc Com (UNH) (-17.4% shares) and Applied Matls Inc (AMAT) (-12.5% shares), compared with its Q1 2026 filing.

How has State of Michigan Retirement System's portfolio performed?

A portfolio copying State of Michigan Retirement System's 20 largest 13F holdings each quarter, from the day each filing was public, returned +25.0% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +17.3% against +20.1%. Over 5 years: +13.9% a year against +11.6%.

When is State of Michigan Retirement System's next 13F filing due?

13F filings are due 45 days after each quarter ends. State of Michigan Retirement System's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.